Albert Park to Receive $350 Million Grand Prix Precinct Upgrade

The Victorian Government has confirmed a $350 million upgrade to the Albert Park Grand Prix precinct, with plans unveiled by Minister for Tourism, Sport and Major Events Steve Dimopoulos at midday on Sunday.

The multi-stage redevelopment will include a new pit building, expanded paddock and hospitality facilities, and year-round infrastructure improvements to ensure the Melbourne circuit remains at the forefront of global motorsport.

Crucially, the existing pit and paddock buildings—constructed in the mid-1990s—no longer meet current FIA specifications for Formula 1 venues. The upgrade is aimed at addressing those shortfalls and preserving Albert Park’s long-term position on the F1 calendar, especially amid growing international competition.

Construction of the new pit complex is scheduled to begin after the 2026 Australian Grand Prix, with completion expected by 2030. The venue will remain operational during the phased works.

Premier Jacinta Allan said the investment not only secures the future of Australia’s round of the Formula 1 World Championship, but also provides lasting community benefits for sport and recreation.

Formula 1 CEO Stefano Domenicali welcomed the announcement, describing it as a strong signal of Melbourne’s commitment to remaining a key destination for the sport.

Importantly, the Albert Park upgrade does not impact the State Government’s ongoing support for a permanent motorsport facility at Avalon, which remains under consideration for other racing categories and driver development initiatives.

More in Auto Action Digital on Tuesday.

A design for the new pit facilities for the Australian Grand Prix.